How Asbestos Bankruptcy Trusts Work

There is one known cause of mesothelioma: Exposure to asbestos.

Mesothelioma has a long latency period, which means a long time passes between when a victim was exposed to asbestos until he or she is diagnosed with mesothelioma. According to the American Cancer Society, the latency period for mesothelioma is between 20 and 50 years.

Considering that decades may pass from when someone is exposed to asbestos to when that person is diagnosed with mesothelioma, it can be difficult to track the source of the exposure.

In these cases, it is important to work with an experienced attorney who has knowledge of job sites throughout the United States. Richardson, Patrick, Westbrook & Brickman, LLC, has significant experience identifying the source of asbestos exposure.

Once the negligent company or manufacturers are known, we help clients take legal action and seek compensation.

But what happens when the employer, company or manufacturer filed bankruptcy and is no longer in business?

The good news is that these companies can still be held accountable, even if they have filed bankruptcy.

What Are Asbestos Bankruptcy Trusts?

When a company that exposed workers to asbestos filed bankruptcy, that company may have been required to set up a bankruptcy trust fund depending on the type of bankruptcy filed.

The purpose of setting up a bankruptcy trust fund was to ensure that individuals who would later be diagnosed with mesothelioma would have options for securing compensation in the future.

Remember: A company is not off the hook just because it filed bankruptcy. Talk to an experienced asbestos attorney to learn about your legal options.

5 Things Mesothelioma Victims Need To Know About Asbestos Bankruptcy Trusts

  1. Many companies that exposed workers to asbestos eventually filed bankruptcy.
  2. Many of these companies were required to set up an asbestos bankruptcy trust.
  3. Victims of mesothelioma may be eligible for compensation through a company's bankruptcy trust.
  4. Even if the company filed bankruptcy decades ago, victims may still have legal options.
  5. Working with an attorney throughout this process is imperative, to identify the source of asbestos exposure, the negligent company, whether the company has a trust fund in place, how much is in the trust fund, and how much the victim is eligible to receive.

Free Consultation: Learn About Your Options

We represent mesothelioma victims throughout the United States, and we can travel to meet you in your home. Please call 866-594-8765 or complete our online contact form to reach our office.